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Pharoah Manufacturing Corporation purchased 2200 shares of its own previously issued $10 par common stock for $61600. As a result of this event. o Pharoah's

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Pharoah Manufacturing Corporation purchased 2200 shares of its own previously issued $10 par common stock for $61600. As a result of this event. o Pharoah's Common Stock account decreased $22000, o Pharoah's total stockholders equity decreased $61600. O Pharoah's Paid-in Capital in Excess of Par Value account decreased $39600 O All of these answer choices are correct

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